Netcorp Can Help Reduce Repossession Costs with GPS Tracking

Contrary to belief, repossessions can be as costly for dealers and lenders as they are for borrowers. They characteristically take up a lot of resources, time, and money to reclaim a car. Dealers and lenders must walk a fine line among the allure of profits from new clients, and the loss of income from repossessions. Besides the terrible lumber placed on borrowers, defaults on loans can cost an average of $7,401 per vehicle in total recovery costs and losses.
With a Netcorp GPS vehicle tracking solution, automotive lenders can decrease their risk and expenses extensively. A host of features make it simple to monitor assets and keep track of high risk buyers. The level of complexity of today’s devices allows businesses to inconspicuously track vehicles 24/7, without the hazard of recognition or deduction. Automotive lenders can distantly disable a vehicle with a starter-interrupter when payment is not transferred, and track the location of a vehicle (reducing the man hours it takes to find one). Furthermore, with buyer co-operation, both parties can benefit from the cost savings in insurance overheads and safety of vehicle tracking.
A Netcorp GPS tracking solution is absolutely customisable to individual requirements, and keeps historical data so that driving patterns and vehicle location patterns can be observed before a vehicle becomes unrecoverable or cannot be found. Both lender and borrower can help enhance recovery rates by as much as 33%, lowering the costs of borrowing and help a business achieve higher net income.
Our highly developed set of tools are available across our whole GPS tracking platform and are precisely what lenders need to manage high risk customers.